New: A daily newsletter defining what matters in business and markets

Stories

Trump tax plan repeals Affordable Care Act tax on wealthy

(Carolyn Kaster / AP)

The plan guts the Affordable Care Act's 3.8 percent tax on investment income, according to a summary obtained by CNN's Jim Acosta. This is one of the sources of revenue for the health care law, which the GOP is still trying to repeal after its first effort failed last month.

What it means: The move suggests that the Trump administration is looking for other vehicles to knock out some of the taxes in the Affordable Care Act and isn't counting on the repeal effort, even as House Republicans try to revive it.

More stories loading.